Veeco Instruments (NASDAQ:VECO) Issues Q1 Earnings Guidance

Veeco Instruments (NASDAQ:VECO) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $0.00-0.22 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.11. The company issued revenue guidance of $95-120 million, compared to the consensus revenue estimate of $111.52 million.Veeco Instruments also updated its Q1 2020
After-Hours guidance to 0.00-0.22 EPS.

A number of research firms have recently weighed in on VECO. BidaskClub downgraded shares of Veeco Instruments from a strong-buy rating to a buy rating in a research report on Saturday, February 1st. Zacks Investment Research downgraded shares of Veeco Instruments from a strong-buy rating to a hold rating in a research report on Saturday, January 11th. Northland Securities reaffirmed a buy rating and issued a $19.00 target price on shares of Veeco Instruments in a research report on Friday, November 29th. ValuEngine raised shares of Veeco Instruments from a sell rating to a hold rating in a research report on Tuesday, February 4th. Finally, Benchmark reaffirmed a buy rating and issued a $18.00 target price (up from $15.00) on shares of Veeco Instruments in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $16.75.

VECO stock traded up $0.54 during trading on Thursday, hitting $16.37. 270,376 shares of the stock traded hands, compared to its average volume of 258,617. Veeco Instruments has a 1 year low of $8.98 and a 1 year high of $17.23. The firm’s 50 day moving average is $14.84 and its two-hundred day moving average is $13.03. The stock has a market cap of $800.54 million, a price-to-earnings ratio of -4.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.42 and a quick ratio of 2.47.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam deposition and etch systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.

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